There is a lot of truth in what others have already published, but the biggest setback in high quality audio over the last twenty+ years has been extreme price increases and unsustainable rent cost for audio stores. More than 90% of all audio shops are closed, so most of us can not hear what we buy before we buy it. Even if a reputable mail order house has good return policies, you can only audition what you order.
This makes review magazines more important than ever and they concentrate on components that few can afford. The industry has to somehow, give more people the opportunity to hear good sound before they understand what they are missing.